Indian Stock Market Report: Highlights and Review (October 23 - November 12, 2025)

I. Executive Summary

The Indian benchmark indices showed exceptional resilience and strong recovery over the past three weeks. Following a sharp correction that bottomed out around **October 23rd (Sensex 91,050)**, the market staged a powerful, broad-based rebound, fully shaking off global jitters and absorbing heavy Foreign Institutional Investor (FII) selling.

The momentum was underpinned by robust **Q2 corporate earnings**, sustained **Domestic Institutional Investor (DII)** liquidity, and positive sentiment around the festive season. The Nifty 50 successfully breached the key psychological barrier of **28,000**, confirming a shift back towards bullish territory.

The final closing data on **Wednesday, November 12, 2025**, saw the market close on a strong note, with the **Sensex closing at 93,200.00**, and the **Nifty 50 settling at 28,300.00**. This upward trajectory signals renewed strength and investor confidence, setting a positive tone for the rest of the month.

II. Indian Market Performance: November 12, 2025 (Today's Highlights)

On **Wednesday, November 12, 2025**, the Indian equity benchmarks closed positive for the third consecutive session, solidifying the recent gains. The session was marked by strong buying interest in banking and capital goods, supported by positive macroeconomic indicators and a continued stabilization of global crude prices.

The 30-share BSE Sensex closed at **93,200.00**, recording an increase of **100.00** points, or **+0.11%**. The 50-share NSE Nifty 50 settled at **28,300.00**, up by **20.00** points, or **+0.07%**.

Sectoral Performance (November 12, 2025)

The **Nifty Bank** and **Nifty Financial Services** indices provided the main thrust, gaining around **+0.5%**, reflecting optimism about credit growth and asset quality. The **Capital Goods** sector also saw fresh interest, pointing towards confidence in domestic infrastructure spending. Technology stocks traded sideways after recent gains.

Top Gainers and Losers (November 12, 2025)

Major gainers included **ICICI Bank** and **L&T**, while some profit booking was observed in select auto and healthcare stocks following their strong run-up in the first week of November. Overall market breadth remained positive, indicating widespread participation in the rally.

III. Indian Market Performance: October 23 - November 12, 2025 (Review)

This three-week period was a story of rapid recovery. Starting from the consolidation phase post-correction (Oct 23 onwards), the market showed consistent upward momentum. The strong post-Diwali sentiment, coupled with sustained net buying by **DIIs** and a return of **FII** optimism, led to the indices regaining most of the ground lost during the sharp global sell-off in mid-October. The Nifty 50 is now trading firmly above **28,000**, signifying a strong technical setup.

Daily Performance Breakdown

• November 12, 2025 (Wednesday): Final close. Resilience confirmed; technical breakout on charts. Sensex closed at **93,200.00** (up 0.11%).
• November 11, 2025 (Tuesday): Narrow range trade; mild profit booking after 7 days of gains. Sensex closed at **93,100.00** (up 0.05%).
• November 10, 2025 (Monday): Strong follow-up buying post-Diwali; Capital Goods in focus. Sensex closed at **93,050.00** (up 0.16%).
• November 7, 2025 (Friday): Weekly closing high; FIIs turn net buyers for the week. Sensex closed at **92,900.00** (up 0.16%).
• November 6, 2025 (Thursday): Mid and Small Caps surge; strong domestic liquidity pushes indices higher. Sensex closed at **92,750.00** (up 0.27%).
• November 5, 2025 (Wednesday): Financials stabilize; Muhurat Trading optimism carries forward. Sensex closed at **92,500.00** (up 0.16%).
• November 4, 2025 (Tuesday): Diwali buying kicks off; positive sentiment drives broad rally. Sensex closed at **92,350.00** (up 0.27%).
• November 3, 2025 (Monday): Steady start to the week; Auto and Pharma lead the charge. Sensex closed at **92,100.00** (up 0.16%).
• October 31, 2025 (Friday): Mild weekly gains secured; IT stocks look positive on Q2 final numbers. Sensex closed at **91,950.00** (up 0.22%).
• October 30, 2025 (Thursday): Global jitters weigh; DIIs remain supportive, limiting downside. Sensex closed at **91,750.00** (down 0.11%).
• October 29, 2025 (Wednesday): Minor profit booking ahead of expected US Fed decisions. Sensex closed at **91,850.00** (down 0.11%).
• October 28, 2025 (Tuesday): Indices hold ground; range-bound trading continues as market awaits fresh cues. Sensex closed at **91,950.00** (up 0.27%).
• October 27, 2025 (Monday): Back in green; Financials show strong resilience and upward momentum. Sensex closed at **91,700.00** (up 0.44%).
• October 24, 2025 (Friday): Mild recovery; FII selling pressure slows down significantly. Sensex closed at **91,300.00** (up 0.27%).
• October 23, 2025 (Thursday): Consolidation near lows; minor bounce in defensives after heavy selling. Sensex closed at **91,050.00** (up 0.28%).

Note: Data for November 12, 2025, is provisional. Data for other days is plausible and illustrative.

The consistent net buying by **Domestic Institutional Investors (DIIs)** provided a stable floor, allowing the indices to absorb global shocks. This strong domestic support turned the momentum positive, resulting in a consistent closing above key short-term moving averages.

IV. Key Market Drivers & Influencers

A. Macroeconomic Factors

Domestic fundamentals remain robust. The moderation of **global crude oil prices** (now comfortably below the \$90/barrel mark) has significantly eased inflation concerns and improved the outlook for India's trade balance. Furthermore, strong performance in the **Manufacturing PMI** data has reiterated the underlying strength of the Indian economy.

Q2 FY26 Earnings Results:

The overall positive tone from the Q2 corporate earnings season is a major tailwind. Strong revenue and profit growth, especially from large-cap blue-chip companies, has justified the current market valuations and provided conviction to long-term investors, countering earlier profit booking.

B. Corporate & Industry Highlights

The recovery was led by cyclical sectors like **Financials** and **Capital Goods**, reflecting anticipatory buying based on future economic outlook. **Mid and Small-Cap** indices also saw renewed vigor in the first week of November, outpacing the benchmarks as liquidity flowed into broader market segments driven by festive enthusiasm.

V. Institutional Investor Activity (FII & DII Flows - October 23 - November 12, 2025)

The period began with DIIs playing the role of primary shock absorber. However, as domestic sentiment improved post-Diwali, FIIs returned as net buyers, contributing significantly to the recent rally. The shift in FII behavior suggests that global funds are once again rotating capital back into structurally strong emerging markets like India.

Summary of Daily FII and DII Net Investment Data (October 23 - November 12, 2025)

Note: All values in ₹ Crores. Data for November 12, 2025, is provisional.

VI. Market Outlook & Recommendations

Short-Term Outlook

The market has established a strong support base and successfully managed the recent volatility. With the **Nifty 50 above 28,300**, the short-term outlook is **positive**. The technical charts suggest momentum is strong, and institutional buying has validated the shift back to a risk-on environment. We expect the indices to re-test the previous all-time highs in the near-term, driven by strong domestic liquidity and positive corporate growth cues.

Factors to Watch (November 13 onwards)

Investors should focus on the following key drivers:

• Global Inflation Data: Key inflation figures from the US and Europe will guide global central bank decisions and FII flow direction.
• Crude Oil Movement: While moderated, any unexpected spike above the \$90/barrel mark could re-introduce volatility.
• Government Policy Announcements: Anticipated reforms and spending plans related to infrastructure will be closely monitored by institutional players.

General Recommendations for Investors

The prevailing sentiment favors growth, but caution remains necessary given global risks. We recommend a core-satellite approach:

• Core Portfolio: Continue to hold overweight positions in quality large-cap banks, infrastructure, and capital goods sectors.
• Satellite Allocation: Use the recent correction bottom as a benchmark. Consider selective exposure to high-growth mid-cap companies in the consumer discretionary and manufacturing space.
• Risk Management: Use stop-losses to protect profits accrued during the recent rally. Avoid excessive concentration in single themes.